Selective Insurance Group, Inc. (NASDAQ:SIGI) Receives Average Rating of “Hold” from Analysts

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) have been given an average recommendation of “Hold” by the five brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $105.17.

A number of equities analysts have recently issued reports on the stock. Oppenheimer reiterated an “outperform” rating and issued a $120.00 price target on shares of Selective Insurance Group in a report on Friday, April 5th. Royal Bank of Canada cut their price target on shares of Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating for the company in a report on Friday, February 2nd. Keefe, Bruyette & Woods cut their price target on shares of Selective Insurance Group from $111.00 to $109.00 and set a “market perform” rating for the company in a report on Tuesday, February 6th. Finally, Piper Sandler restated a “neutral” rating and set a $104.00 target price on shares of Selective Insurance Group in a research report on Monday, April 1st.

Selective Insurance Group Stock Down 0.9 %

SIGI stock opened at $101.19 on Friday. The company has a fifty day moving average of $103.48 and a 200-day moving average of $102.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a market capitalization of $6.15 billion, a PE ratio of 17.36, a price-to-earnings-growth ratio of 0.75 and a beta of 0.55. Selective Insurance Group has a one year low of $91.99 and a one year high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.02. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. Selective Insurance Group had a net margin of 8.57% and a return on equity of 14.43%. As a group, analysts expect that Selective Insurance Group will post 7.67 EPS for the current year.

Selective Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.40 annualized dividend and a dividend yield of 1.38%. Selective Insurance Group’s dividend payout ratio is currently 24.01%.

Insider Buying and Selling

In related news, COO Brenda M. Hall sold 2,626 shares of Selective Insurance Group stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $105.88, for a total transaction of $278,040.88. Following the completion of the transaction, the chief operating officer now directly owns 10,511 shares in the company, valued at approximately $1,112,904.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Ballentine Partners LLC acquired a new position in Selective Insurance Group in the 1st quarter valued at $204,000. Rise Advisors LLC acquired a new position in Selective Insurance Group in the 1st quarter valued at $27,000. CWM LLC raised its holdings in Selective Insurance Group by 2,015.6% in the 1st quarter. CWM LLC now owns 3,808 shares of the insurance provider’s stock valued at $416,000 after acquiring an additional 3,628 shares during the last quarter. Moody National Bank Trust Division acquired a new position in Selective Insurance Group in the 1st quarter valued at $305,000. Finally, Quadrature Capital Ltd acquired a new position in Selective Insurance Group in the 4th quarter valued at $1,041,000. 82.88% of the stock is currently owned by institutional investors and hedge funds.

About Selective Insurance Group

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers casualty insurance products that covers the financial consequences of employee injuries in the course of employment and bodily injury and/or property damage to a third party; property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and flood insurance products.